How Long does the Foreclosure Process take in New York?

Depending on a number of variables, including the type of loan, the lender’s foreclosure procedures, and if the borrower disputes the foreclosure, the foreclosure process in New York can take several months to a few years. Since New York is a judicial foreclosure state, the lender must file a foreclosure lawsuit in order to take possession of a property. Comparatively to non-judicial foreclosure states, this often lengthens the foreclosure process. In addition, the necessary settlement conference requirement in New York might prolong the procedure.